Looking Ahead: Week of November 11 to 15
Market News International surveys between 15 and 20 Wall Street economists each week for their forecasts of economic indicators.

Thursday
Economists are predicting that new jobless claims will increase 6,000 in the week ended November 9 from last week's level of 390,000. Changes in jobless claims are typically more volatile in the fall because of a variety of holidays; it becomes more difficult to adjust the data for seasonal variation. (Forecast range: -5,000 to +25,000)

The market consensus shows that retail sales fell 0.3 percent in October after declining 1.2 percent in September. The drop is attributed to another decline in motor vehicle sales. (Forecast range: -0.5 to 0.3 percent) At the same time, retail sales excluding autos are estimated to post a 0.2 percent gain in October; this follows a similarly anemic 0.1 percent rise in September. Keep in mind that retail prices are either stable or on a downward trend; consequently, retail sales appear soft even when quantity of sales pick up. (Forecast range: 0.0 to 0.5 percent)

Friday
The producer price index is expected to inch up 0.2 percent in October, faster than the more modest pace of the past few months. This is due to higher energy prices. (Forecast range: 0.1 to 0.5 percent) Excluding food and energy prices, the PPI should rise 0.1 percent for the month. This would be in line with the September hike. (Forecast range: 0.0 to 0.3 percent)

Economists are predicting that business inventories will edge up 0.2 percent in September after declining 0.1 percent in August. Wholesale trade inventories rose 0.5 percent for the month while manufacturers' inventories were unchanged. Retail sales are the missing link here. (Forecast range: -0.1 to +0.4 percent)

The market consensus shows that the index of industrial production is likely to decline 0.3 percent in October, its third straight monthly drop. This is based on the variety of manufacturing indicators including the Philadelphia Fed's business outlook survey; factory payrolls and the factory workweek. (Forecast range: -0.7 to -0.1 percent) At the same time the capacity utilization rate is expected to decrease to 75.6 in October from a level of 75.9 in September. (Forecast range: 75.3 to 75.9 percent)

The University of Michigan's consumer sentiment index for mid-November is predicted to increase to 82 from a level of 80.6 in October. While economic conditions haven't changed in the past couple of weeks, the stock market has improved and this may be a positive factor for consumers. (Forecast range: 81 to 85)